The works in this document illustrate the difficulties in implementing measures based on the Anglo American model to improve corporate governance in four Asian countries; Korea, China, Malaysia and Japan. The evidence shows that corporate governance transformations in these countries have brought about conflict between newly adopted governance mechanisms and the existing domestic environment. I argue that attempts to improve corporate governance through adopting models from foreign jurisdictions cause enormous complications, and that their adoption is often prompted by a flawed belief that they will naturally bring about order to corporate governance in the host country.
The works in this document also explore the impact of transplanting Anglo American employment practices (an important constituent of the Anglo American corporate governance model) on employment relations in Asian countries. Employment relationships in these countries, traditionally characterised by norms of life long employment, promotion and remuneration based on seniority and strong ‘familial’ relations between employers and workers, are increasingly being undermined by Anglo American employment practices which promote certain forms of labour flexibility, erode trust between employer and workers and encourage increasing reliance on formal legal rights to protect interests. I conclude that Asian countries need to ensure that laws and practices which are adopted to advance corporate success are appropriate for their domestic environments.
The works in this document contribute to the study of corporate governance in three ways. First, it contributes to an understanding of the problems and practicalities in implementing the Anglo American model across different national systems. Second, it contributes to the growing literature on this subject in Asian countries, a significant area of growth in the world economy. Third, it generates ideas which may be useful in instigating empirical research to investigate further impacts on Asian corporate governance of the adoption of foreign models
